Upward trend for producer prices of extra virgin olive oil

Olio Officina

Producer prices in Spain started to rise constantly in the second half of 2014. After breaking the three-euro barrier in the second week of December 2014, they continued upwards to reach €3.28/kg by the end of January 2015. This is the highest level yet in the period under review and is 60 pc higher than a year earlier and 67 pc above the low recorded in May 2014 (€1.96/kg)

In recent months, producer prices in Italy have been on a very clear upward trend. In the week from 10 to 16 November 2014, they hit the highest level of both the period under review and the last decade, reaching €6.79/kg. After a small dip in the second last week of December 2014, prices switched back upwards to reach €6.03/kg at the end of January 2015, equating with an increase of 103 pc on a year earlier and 128 pc compared with the low recorded in the second week of December 2013 (€2.64/kg).

After holding steady at €2.51/kg through July and August 2014, producer prices in Greece climbed for several weeks. After declining at the beginning of October they rose to high levels in the next three months, then breaking the three-euro/kg barrier in the third week of January 2015. By the end of the month, they stood at €3.01/kg, showing 21 pc growth on the same period a season earlier.

Towards the end of December 2014, in Tunisia producers were paid €2.73/kg for their extra virgin olive oil. Prices held steady for a few weeks but then started to move upwards to €2.93/kg by the end of January 2015 (+16 pc compared with a year earlier). In the coming months it will be interesting to see how and if prices are affected by the flexibility offered by the EU in the monthly quotas fixed for February and March for Tunisian tax-exempted olive oil exports to the EU.

Source: International Olive Council

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